Section 16 Interest

Where the Department intends to recover on demand payment by way of grant in whole or in part in accordance with Article 15, it may, in addition, recover interest on that amount at a rate of 1% above LIBOR calculated on a daily basis for the period from the date of payment until the date of recovery.

In any proceedings for recovery under this Scheme, a certificate issued by the Department showing the rate or rates of interest, the amount of such interest recoverable and the period for which interest is calculated shall, unless the contrary is shown, be conclusive evidence of those matters.